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7/14/2023 | 8:00 AM CET

Half-year report January-June 2023

Regulatory

“Castellum is standing strong after the new share issue, completed property divestments and renegotiated rents. Despite an incipient recession, a higher key interest rate and a grim capital market, the second quarter demonstrated a continued strong demand in the Nordic office and logistics market. Castellum has concluded favourable renegotiations and signed many new contracts which gives a positive net letting of SEK 21 M during the quarter. This, together with increased rental income through inflation indexing, provided the company with record-high income of SEK 4,953 M, an increase of SEK 553 M over the year-earlier period,” says Joacim Sjöberg, CEO of Castellum AB.

• Income for the January–June period totalled SEK 4,953 M (4,400). In the like-for-like portfolio of the investment properties, rental income increased by 9.8 per cent (4.4).
• Net operating income for the January–June period totalled SEK 3,222 M (2,917), corresponding to an increase of 10.5 per cent.
• Income from property management totalled SEK 2,093 M (2,375), corresponding to SEK 4.98 per share (7.13).
• Changes in value on properties amounted to SEK -6,618 M (2,812) and on derivatives to SEK 753 M (2,470).
• After the new share issue was completed, the loan-to-value ratio amounted to 36.9 per cent (42.3).
• 71 per cent of the loan portfolio has a fixed interest term exceeding one year.
• The total lease value of all leases at 30 June 2023 was SEK 9,376 M (8,888).
• The occupancy rate was 92.8 per cent (93.7). The decrease is attributable primarily to the divestment of properties that were fully let at handover.
• Property sales totalled SEK 3,406 M (2,448).

Attachment: Half-year report January-June 2023

Castellum has decided to update the financial calendar as follows:

Interim report January–September 202327 October 2023
Year-end report January–December 202314 February 2024
Interim report January–March 20243 May 2024
Annual General Meeting 20247 May 2024
Half-year report January-June 202416 July 2024

For further information, please contact:
Joacim Sjöberg, CEO Castellum AB, +46 8 503 052 00
Jens Andersson, CFO Castellum AB, +46 76 855 67 02

Documents and files

Castellum Half Year Report January June 2023 (PDF)

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